Oil Gains After 12 Days of Losses – 14 November, 2018

After 12 consecutive days of declines, oil rose on the possibility that OPEC and non OPEC members will cut output in a decision to be made at a meeting next month. U.S. crude gained 1 percent to $56.25 per barrel, and Brent crude rose 1 percent to $66.12 per barrel. A concern about an oversupply and slow demand caused Brent, a benchmark, to fall over 20 percent since October. A Brexit draft helped sterling gain 0.22 percent to $1.2999, while the euro rose 0.23 percent to $1.1315. The dollar index fell 0.35 percent against a basket of currencies.